The Greater China Fund, Inc. (NYSE: GCH) Announces Preliminary Results of Tender Offer
2011年10月18日 - 1:39AM
Marketwired
The Greater China Fund, Inc. (NYSE: GCH) ( the "Fund") announced
the expiration and preliminary results of the Fund's tender offer
(the "Tender Offer") for up to 6,067,002 of its issued and
outstanding shares of common stock, par value $0.001 per share. The
Tender Offer was for up to 20% of the Fund's issued and outstanding
shares. The Tender Offer expired at 11:59 p.m., Eastern Time, on
October 14, 2011 (the "Expiration Date").
Based upon current information, approximately 7,866,203 shares,
or approximately 25.9% of the Fund's issued and outstanding common
stock, were tendered through the Expiration Date, including shares
tendered pursuant to notices of guaranteed delivery. Based on this
preliminary information, the pro-ration for each tendering
stockholder is estimated to be 77.13% of the shares properly
tendered. These numbers are subject to adjustment and should not be
regarded as final. No more than a total of 6,067,002 properly
tendered shares will be accepted in exchange for cash at a price
equal to 98% of the Fund's net asset value ("NAV") per share, as
determined later today, October 17, 2011, following the close of
business on the New York Stock Exchange. The final number of shares
validly tendered and accepted pursuant to the Tender Offer and the
price per share will be announced at a later date.
For more information about the Tender Offer please contact The
Altman Group, Inc., the Fund's Information Agent for the Tender
Offer, by calling toll-free (800) 884-5101 between the hours of
9:00 a.m. and 5:00 p.m., Eastern Time, Monday through Friday
(except holidays).
Closed-end funds, unlike open-end funds, are
not continuously offered. There is a one-time public offering and
once issued, shares of closed-end funds are sold in the open market
through a share exchange. Shares of closed-end funds frequently
trade at a discount to the net asset value. The price of a fund's
shares is determined by a number of factors, several of which are
beyond the control of the fund. Therefore, a fund cannot predict
whether its shares will trade at, below or above net asset
value.
This press release shall not constitute an
offer to sell or a solicitation to buy, nor shall there be any sale
of the Fund's shares in any state or jurisdiction in which such
offer or solicitation or sale would be unlawful prior to
registration or qualification under the laws of such state or
jurisdiction.
CONTACT: WARREN ANTLER 212-400-2605 Email Contact
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